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So is the picture in the OP gas fees? Or is it binance fees?
The withdrawal fee is adjusted to the onchain transaction gas fee at that time, so in the picture is the gas fee. Ugh! This just gets more confusing. In layman's terms? |
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OK. Trying to understand here. For example, is it possible to use BEP2 to send 0.01 btc to my Coinbase wallet?
No. Coinbase doesn't support BSC. You can't send BEP-2/BEP-20 tokens to a Bitcoin address; it's pretty much like sending ETH to your BTC address— it's either that the wallet won't allow the sending, or you end up losing your money. Bitcoin on the Binance Smart Chain are just "wrapped" bitcoin. Pretty much bitcoin IOUs. So is the picture in the OP gas fees? Or is it binance fees? |
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This is only a good option if you are a trader where you can just transfer your Bitcoin to another exchange with Binance smart chain or Bep2/20 to get less fee.
But withdrawing them to Bitcoin wallet. No, you can receive anything with Bitcoin wallets except for hardware wallets that have the option to receive coins with Binance smart chain.
Electrum, Bitcoin Core, or any noncustodial wallet you won't receive anything if you sent Bitcoin through Bep2. You must send it to a wallet compatible with Bep2 or Bep20.
OK. Trying to understand here. For example, is it possible to use BEP2 to send 0.01 btc to my Coinbase wallet? |
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 . Can it be used to send (withdraw) BTC to another wallet? If so, why wouldn't anyone just use that instead of btc network since it's so much cheaper? What am I missing? |
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I just noticed that withdrawing from Binance using BTC is ridiculously expensive compared to BNB, which is almost nothing. So I was wondering, why am I not using it? Why don't YOU use it? I feel like there is a catch, just don't know what it is.
1) I use USDC to trade. Should I switch over to BNB? Why? Why not?
2) What are the advantages? Is it only to save on fees? If so, would there be any disadvantages that would negate that benefit?
3) Do I have to pair the crypto I'm trading with BNB in order to use BNB to avail the low fees? Or can I just exchange currency for some BNB to hold in my wallet and Binance will use that BNB to pay fees?
BNB is an altcoin. As long as Binance will have success, BNB should be pretty much OK. As soon as Binance will get into difficulties (and you may not be aware) BNB may no longer be OK. Since Binance is getting at the verge of being banned here and there, they now try to start getting compliant with the law(s). This may be too late, this may be a problem for the customers, or may be just fine. I don't know. Altcoins are risky. You should know that. All in all, I would not keep too many funds in BNB. But that's my opinion; some do consider it a wonderful investment. Now, I'm not convinced how many exchanges accept BNB; I expect that they're are much less than USDT. Also you should know that if you withdraw BNB, you'll keep it in BNB wallet, not Bitcoin. You know the difference between Bitcoin and altcoins, right? And at the end, I do keep some money in BNB. But it's under 1$. I keep it for cheaper exchange fees at Binance. For me, that's the only good use for BNB. I hope it helps. But please do as you think fit. It's up to you whether you invest or not. Thanks! OK, I just want to know if I can keep just enough for the trading and withdrawal fees. For example, if I'm trading BTC>USDC, the fee will be %1 of the traded currency, taken out from the USDC (the currency acquired from the trade). So if 1 BTC is 50,000 USDC, and I traded 0.005 BTC for 250 USDC, they'll take %1 from the 250 USDC, which will be 2.5 USDC. So I'll end up with 247.5 USDC. But if i use BNB, they say that the fees will be reduced (to %0.5 I think it was). So in the above example trade, they'll take out 1.25 instead of 2.5, but they will not take it from the USDC, but rather the BNB in my wallet. Is the above correct? Did I understand how it works correctly? If yes, then... 1) Is it %0.5 of the BNB's exchange rate from the 250 USDC? So for example, if 1 BNB is 500 USDC, does it mean they will take out 0.0025 BNB? (1 USDC = 0.0020 BNB so 1.2 USDC would be 0.0025 BNB).2) Can I buy enough BNB to keep in my wallet for just the transaction fee I want? Taking the above example, if I wanted to make that trade in an hour, and I currently have zero BNB in my wallet, can I go ahead and buy 0.0025 BNB just for the purpose of saving on fees for that transaction? Does it work that way? |
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I just noticed that withdrawing from Binance using BTC is ridiculously expensive compared to BNB, which is almost nothing. So I was wondering, why am I not using it? Why don't YOU use it? I feel like there is a catch, just don't know what it is.
1) I use USDC to trade. Should I switch over to BNB? Why? Why not?
2) What are the advantages? Is it only to save on fees? If so, would there be any disadvantages that would negate that benefit?
3) Do I have to pair the crypto I'm trading with BNB in order to use BNB to avail the low fees? Or can I just exchange currency for some BNB to hold in my wallet and Binance will use that BNB to pay fees?
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...but rather the contrary?
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2FA I feel is not secure because if someone gets ahold of my phone, then that's not good. And if I lose my phone number, again not good.
What would be the most secure way where my phone or phone number being compromised would not result in my wallet being compromised?
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I mean, if I were a billionaire who wanted a quick billion...I'd just buy a few unknown coins and then tweet "psst! Bondo coin" yawn yawn... Wake up the next morning and now Bondo coin is worth %37000 more.
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I'm struggling at support and resistance and drawing the lines at the right places. YouTube videos isn't cutting it. A proper course with tests or evaluation points would be great. Any point in the right direction?
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Isn't that basically what bitcoin is?
He can hardly buy anything with it. We just give it value for the sake of giving it value.
Matter of fact, let's do just that for the heck of it, see how far we can go with it. I'll pick up a rock and call it Akorn and put it up for $10. I'll buy it back for $10 and let's see how much it'd be worth by the end of the year.
Lol! Probably that's your perception towards bitcoin! But it doesn't mean that you are correct. Now when you say that people can't buy anything with bitcoin, I would point you towards an website, Coinmap.org You will find a map based list of merchants and ATMs worldwide that transacts in bitcoin. Also did you ever heard of purse.io website. You can buy anything from Amazon using bitcoin. So your point is invalid! That's not why people are buying it though. Also note I said "hardly". I didn't say you can't at all. Gold, fiat...their value is in what they can do for you. Bitcoin can hardly do anything for you. |
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Isn't that basically what bitcoin is?
We can hardly buy anything with it. We just give it value for the sake of giving it value.
Matter of fact, let's do just that for the heck of it, see how far we can go with it. I'll pick up a rock and call it Akorn and put it up for $10. I'll buy it back for $10 and let's see how much it'd be worth by the end of the year.
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Yeah I see it. Somehow makes sense now. Thanks Jerome! You've been super helpful. I appreciate it! 🙏
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That's what I thought at first but it turned out to be that it's not. Changing the time frame does not change the percentage. It does. I would suggest you use data that's directly from an exchange and not tradingview's as there's a small margin of error. I regret using their graph to explain to you. Example 1. 4H BTC/USDT chart on Binance  Opening price - 40,507.56Closing price - 41,646.10Percentage change within one candlestick in that time frame = (Closing price - Opening price) x 100/(Opening price) ( 41,646.10 - 40,507.56) x 100/( 40,507.56) = 2.810685215% as seen in the picture If you change the timeframe to 1 hr, the opening and closing prices of the candle stick will also change, consequently affecting the percentage price change in that specific candle. Change of what? The percentage? If so then what's the difference between this and the above time frame candle change (#1) you mentioned?
Difference 1. Calculations are made from within the closing and opening price of the same candle 2. Calculations are made from the opening price at 00:00 UTC to the whatever time you are currently looking at the chart (according to tradingview's format that's used to calculate price changes of markets that Open and close like Stocks, commodities etc) On Trandingview mobile app version it does not change. At least on my end.  One hour time frame...  Vs one month time frame...  The small difference you see is just the difference between screenshots. |
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How can I get it to display the percentage from the close of the previous candle? So for example if the time frame is set to 1 hour chart, and the candle closed at $10 and the next one opened at $10, it would show %0. And then, as it rises and falls, it would show the percentage accordingly. So at 00:58 mins if the rate is $11...it would show %10 ((11−10)1÷10×100=%10). And if it's $9, it would show %-10.
Note: Asking for the mobile app version of Tradingview.
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Then it's the percentage price change between the open and close price of a single candle on a given time frame. If it's a 5-minute chart, then that small percentage change represents the price change of Bitcoin in those 5 minutes, represented by one candlestick. That's what I thought at first but it turned out to be that it's not. Changing the time frame does not change the percentage. 2. I did some small research and apparently trading view shows the 24 hours change Change of what? The percentage? If so then what's the difference between this and the above time frame candle change (#1) you mentioned? |
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Ahh OK! Is the 23:09:10 to 23:09:09 an example or does it actually open and close at 23:09:10/09?
If yes it actually opens and closes at those times, then how come not 24:00:00? And what timezone?
If no, then what is the actual open and close time and time zone?
It's an example to help you understand. The time interval has to be 24 hours in between, so timezone doesn't matter. What matters is the 24-hour time interval between the close prices over 2 periods. If you still don't understand, I can try to draw some graphs to illustrate how it comes about. Trying to understand. So how do I know when the next day will start or the previous day ended? Where are the two close periods? Also, how can I get it to display the percentage from the close of the previous candle? So for example if the time frame is set to 1 hour, and the candle closed at $10 and the next one opened at $10, it would show %0. And then, as it rises and falls, it would show the percentage accordingly. So at 00:58 mins if the rate is $11...it would show %10 ((11−10)1÷10×100=%10). And if it's $9, it would show %-10. |
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I tried different time frames to see if it's from the last candle close, that's not it. It's not from the highest price in the date rage the chart is displayed either. So what is it?
-snip- cmiiw  It's the percentage price change in the last 24 hours, so changing time frames of the chart won't affect it. The percentage is dynamic every second or minute that passes by. I hope you get it So the time frame will be like percentage of price change from closing price on candlestick on Monday 23:09:10 to closing price on candlestick on Tuesday 23:09:09, if one second moves, then it will be percentage price change from closing price on candlestick on Monday 23:09:11 to closing price on candlestick on Tuesday 23:09:10 Unlike stocks and other markets, crypto markets don't close and open at specific periods so the update is continues Ahh OK! Is the 23:09:10 to 23:09:09 an example or does it actually open and close at 23:09:10/09? If yes it actually opens and closes at those times, then how come not 24:00:00? And what timezone? If no, then what is the actual open and close time and time zone? |
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 On Trandingview and many other platforms there is a + or - percentage from the current price, but for the life of me i can't figure out from what price the displayed percentage Increase or decrease is. I tried different time frames to see if it's from the last candle close, that's not it. It's not from the highest price in the date rage the chart is displayed either. So what is it? |
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It shows it (order history and trade history) when you trade but then it goes away!
*Note, website. Not app.
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